Riyadh - Sharikat Mubasher: The Saudi fintech company Tabby raised $160 million in a series E funding round at a $3.3 billion valuation, cementing its position as the most valuable fintech company in the region.

The round was led by existing investors Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management, the company announced in a statement yesterday.

Tabby will use the funds to expand its financial services, including digital spending accounts, payments, cards, and money management tools aligning with Vision 2030’s goal of establishing a cashless economy.

The round positions Tabby strongly as it prepares for its upcoming IPO, signaling a pivotal step in its growth journey and reinforcing its ability to deliver the next generation of financial services across the Middle East.

Hosam Arab, CEO and Co-Founder of Tabby, stated that the investment allows Tabby to accelerate its rollout of products that make managing money simpler and more rewarding for customers.

Meanwhile, Christopher Wu, Chief Investment Officer at Blue Pool Capital, said: “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally.”

For his part, Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, commented: “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future.”

It is worth noting that Tabby recently acquired Tweeq, a Saudi-based digital wallet, to expand its product portfolio.